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CHIJ becomes CHIJMES
CHIJMES Pte Ltd, a partnership involving Low Keng Huat, Jetaime Investments and Lei Garden paid $26.8 million for the 1.4 ha site at a state tender in 1990 and pumped in a further $100 million to restore the asset. -
Chijmes to become sophisticated arts centre
CHIJMES Pte Ltd said that Convent of the Holy Infant Jesus premises will not be converted into a retail complex with a foodcourt.Instead, it will be turned into a sophisticated arts centre, with an art gallery, international auction house,specialty shops and restaurants in an almost $100 million restoration project.Art lovers will be able to bid "live" during major art and jewellery auction s held by auction houses suchas Sotheby's and Christie's in London, New York and Paris. -
Anchor tenant leaves, poor business at Chijmes
Anchor tenant Stars Restaurant and Cafe closed its doors on Wednesday. Migen, a Japanese restaurant, had put up its shutters a week earlier.
Two months ago, some tenants banded together to sign a petition asking for rents to be lowered in thelight of poor business. -
Chijmes wins $1 million lawsuit against tenant over rental payments
JUDGMENT has been awarded against the Chijmes restaurant, Stars, which has been found liable topay its landlord rent arrears amounting to S$1.065 million before interest charges.The award was made in an uncontested application brought before the High Court on June 8 bylandlord Chijmes Investment Pte Ltd.But the dispute between the two parties regarding rental increases based on a re-survey of the spaceoccupied by the restaurant still awaits arbitration. -
Suntec Reit acquired Chijmes
Suntec Reit acquired Chijmes for $128 million in December 2005 -
Chijmes being put up for sale
THE iconic Chijmes along Victoria Street is being put up for sale. Suntec Reit has appointed Colliers International to market the property through an expression-of-interest exercise.
However, Suntec Reit is expected to sell the asset only if it gets a
good price. The property was last valued for $134 million at the end of last year. It has 79,794 square feet of net lettable area, and generated revenue of $2.6 million and net property income of $1.8 million for the second quarter ended June 3 -
Chijmes sold to Perennial Real Estate for S$177 million
The Business Times. reported that Perennial Real Estate and OSIM boss Ron Sim will jointly acquire Chijmes for S$177 million from Suntec Real Estate Investment Trust (Suntec Reit).
